A factor that often leads to confusion is ‘when is a sale is deemed to be a sale’. When buying your home this date is probably not that important but when you are buying an investment property that date can make a huge difference to your tax refund. Sale Date Of A Contract A contact to purchase should not be dated until all parties have agreed to all terms and conditions of the contract and all or any changes madeRead More

Property investors can benefit enormously from their investment properties as far as their tax is concerned but what they do need to realise is that they want to keep their accountancy fees as low as possible and to do this it only means that they need to keep all paperwork in order, preferably run an Exel spreadsheet, (or accountancy program for those who have multiple properties) and keep paperwork for each investment property contained to that one address.  Do thisRead More

When you have several property investments the best idea is to keep all documentation for each property in a separate file so that at the end of the year all your paperwork or income and expenses are all neat and tidy ready for the accountant. Do check to make sure that you are charging all your tax deductions as well.  Question your accountant and make sure you are getting as much in tax allowances as possible. Maintenance Expenditure All maintenanceRead More